House prices fell by 1.1 percent in July compared to June, according to Property Norway. Seasonally adjusted house prices were down 0.3 percent. It is the first time since autumn 2013 there are both nominal and seasonally adjusted decline, writes TDN Finans.
READ ALSO: House prices fell in July, but rose in Oslo
The figures come after surprisingly high rise in June of one percent seasonally adjusted.
Earlier, analysts said that it could joke for a rate cut in September, if this continued in July, which it therefore did not.
Analyst Marius Gonsholt Hov at Handelsbanken Capital Markets is one of those who now believe the figures clearly supports a clean cut in September.
– Given that we see a slowdown in the housing market in line with Norges Bank’s expectations , we see no reason why the central bank need to be particularly concerned about lack of financial stability, writes Hov in a recent update on Wednesday afternoon.
The expectation of future Norwegian money market rates, represented by the FRA contracts, were little changed Wednesday According to TDN Finans.
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